Mutual of America Capital Management LLC Buys 31,319 Shares of Cintas Co. (NASDAQ:CTAS)

Mutual of America Capital Management LLC lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 287.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 42,198 shares of the business services provider’s stock after acquiring an additional 31,319 shares during the period. Mutual of America Capital Management LLC’s holdings in Cintas were worth $8,688,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTAS. LGT Financial Advisors LLC grew its holdings in shares of Cintas by 311.1% during the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Financial Management Professionals Inc. grew its holdings in Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Hollencrest Capital Management grew its holdings in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in Cintas during the 2nd quarter worth approximately $27,000. Finally, Addison Advisors LLC grew its holdings in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Up 0.5 %

Cintas stock opened at $216.20 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 12-month low of $136.50 and a 12-month high of $227.35. The firm’s fifty day moving average is $221.79 and its 200 day moving average is $196.06. The company has a market capitalization of $87.19 billion, a PE ratio of 54.60, a PEG ratio of 4.24 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company earned $3.70 EPS. Cintas’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its board has authorized a stock buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas’s payout ratio is 39.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CTAS shares. Redburn Atlantic started coverage on shares of Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Morgan Stanley boosted their target price on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. UBS Group upped their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada upped their price objective on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.63.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.